In Account A, an investment of $1,000 grows to $1,700 in four years at an effective...

 

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In Account A, an investment of $1,000 grows to $1,700 in four years at an effective annual interest rate of z. In Account B, $3,000 is invested for five years, at an effective rate of discount d = r. What is the ending balance in Account B? In Account A, an investment of $1,000 grows to $1,700 in four years at an effective annual interest rate of z. In Account B, $3,000 is invested for five years, at an effective rate of discount d = r. What is the ending balance in Account B?

Answer rating: 100% (QA)

To calculate the ending balance in Account B we need to determine the effective rate of interest for ... View the full answer